Credit Suisse Chief Takes Sharp Pay Cut

ZURICH—Credit Suisse's Chief Executive Brady Dougan took one of the biggest hits in his 2011 paycheck of any chief executive at a major global bank, the Swiss bank's annual report revealed Friday.

Mr. Dougan's compensation more than halved to 5.8 million Swiss francs ($6.3 million) from 12.8 million francs a year earlier. Like all of Credit Suisse's top managers, he didn't get a cash bonus. While Mr. Dougan's base salary remained unchanged, his bonus, awarded in the form of deferred stocks, fell 69% to reflect the sharp...